# Table 14: Smooth Transition Regression (Best 10 by R²)

| c (threshold) | γ (speed) | Z₁ Regime 1 | p-val | Z₁ Regime 2 | p-val | R² |
|---|---|---|---|---|---|---|
| 1.14 | 10 | 50.49*** | 0.0001 | 53.76*** | 0.0000 | 0.3010 |
| 1.14 | 20 | 50.69*** | 0.0001 | 53.18*** | 0.0001 | 0.3002 |
| 1.14 | 5 | 51.34*** | 0.0001 | 54.56*** | 0.0000 | 0.2999 |
| 1.14 | 50 | 51.27*** | 0.0001 | 52.79*** | 0.0001 | 0.2983 |
| 1.14 | 2 | 53.06*** | 0.0001 | 55.07*** | 0.0000 | 0.2966 |
| 0.87 | 10 | 51.76*** | 0.0001 | 53.40*** | 0.0001 | 0.2965 |
| 0.87 | 20 | 51.73*** | 0.0001 | 53.24*** | 0.0001 | 0.2965 |
| 0.87 | 5 | 52.20*** | 0.0001 | 53.71*** | 0.0001 | 0.2961 |
| 0.87 | 50 | 51.86*** | 0.0001 | 53.04*** | 0.0001 | 0.2959 |
| 0.87 | 2 | 53.07*** | 0.0001 | 54.26*** | 0.0001 | 0.2954 |